Goods and Services Tax - Page 941

Delhi VAT – Details of the main bank account as a mandatory provision

Notification No.F.3(375)/Policy/VAT/13 /923-926 (25/10/2013)

It is to inform that, the dealers, while applying for new registration with the Department of Trade & Taxes, are required to provide the details of the main bank account as a mandatory provision. ...

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Delhi VAT – Last date for Mismatch extended

The Department intends to frame the assessment of all registered dealers for the third and fourth Quarter 2012-13 tax-periods on the basis of mismatch in the online data as on 31/10/2013 filed by the dealers in Annexure 2A and 2B of their return....

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Karnataka VAT – Changes in eSugam

In exercise of the powers vested under Sub-section 2-A of Section 53 of the Karnataka Value Added Tax Act, 2003(Karnataka Act No. 32 of 2004) and in suppression of the Notification No. ADCOM (I&C)/P.A./CR-31/2011-12 dated 23- 12-2011,...

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Maintain Audit quality standards or face ICAI disciplinary committee

Circular No. 21 of 2013-14 (14/10/2013)

The Department has high expectation from the CA community and the CAs are advised to carry out the VAT Audit and Special Audit with strict reference to the relevant legal provisions, and complete the work timely. The panel for Special Audit will be reviewed each year based on the quality and the timeliness of the reports. ...

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Delhi VAT-Guideline to ensure faster Processing of refund claims

Circular No.F. 1/2010-11/EDP/CTT/2169 Dated: 11/10/2013 (11/10/2013)

1. Details of sales made against C/H/I/E1/E2/J forms will be submitted quarter wise and details of sales made against F forms will be submitted month wise by the dealers in the online Refund Claim Form through their login....

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Validity of Revision of Processing Fee under Punjab Vat Rules, 2005

Governments may charge certain fee such as user fee, toll tax or other types of assessments in exchange of particular goods, services, or use of property. These are generally not considered taxes, as long as they are levied as payment for a direct benefit to the individual paying. ...

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Punjab Govt withdraws Entry tax & Imposes Advance tax

Punjab Government has withdrawn the Entry tax under the Punjab Tax on Entry of Goods into Local areas Act, 2000, which was under judicial scrutiny and was cause of continous litigation between the Government and the VAT dealers across the State. ...

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Punjab VAT – Goods Under Advance VAT

Punjab Government has notified goods u/s 6(7) of the Punjab VAT Act, 2005 on which Advance VAT will be recovered. Section 6(8) of the Punjab VAT Act, 2005 earlier considered Entry Tax as deemed advance VAT. ...

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Punjab VAT – Procedure for Payment of Advance Tax

NA (04/10/2013)

Just like the dealers used to do in the case of Entry Tax, they will be able to deposit the Advance Tax at the ICCs. For this an entry will be made in the computer system at the ICC. In addition to above, the dealers will be able to deposit the Advance Tax in the office of AETC as well as through internet banking....

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Delhi Tax Compliance Achievement Scheme, 2013 – Highlights

Where assessment order has NOT been issued, the declarant (including trader, manufacturer, contractor, builder, leasing company, etc.) shall pay only declared tax (for the period up to 31.03.2013); and get immunity from interest, penalty and prosecution. Circumstances, such as,-...

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Goods and Services Tax India

The Goods and Services Tax or better known as GST is a Value added Tax and is a comprehensive indirect tax which is levied on the manufacture, consumption, and sale of goods and services. The Goods and Services Tax in India would replace all the indirect taxes which are levied today on goods and services by the Central and the State governments. GST is intended to be comprehensive for most of the goods and services. Goods and Services Tax is a single indirect tax for the entire nation, which would make India a unified market. It is proposed to be a single tax on supply of goods and services, from a manufacturer to the end consumer. The credit of all the input taxes which are paid at each and every stage would be allowed in the following stages of value addition that makes GST basically a tax on value addition only at every stage. The end consumer would have to bear only the Goods and Service Tax which is charged by the final dealer within the supply chain, together with all the set-off benefits availed at previous stages.

At Taxguru, we provide all the latest GST news to our viewers. Our group of expert keep a close check on all the latest developments and provide a comprehensive analysis on GST updates. We keep updating our portal with articles on GST for the enlightening our readers. Bookmark us for all the GST articles and much more on GST.